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Cable Update (GBPUSD)

  • #101,341
  • Nov 26, 2008 6:43am Nov 26, 2008 6:43am
Quoting Shilva
I just went short at 5340...tight stop
Stopped out on this when it broke back up above 5300

Still looking to short this today.
  • #101,342
  • Nov 26, 2008 6:45am Nov 26, 2008 6:45am
Quoting Shilva
Stopped out on this when it broke back up above 5300

Still looking to short this today.
reasoning for shorting bro...it bounced 90 pips up from the fib
  • #101,343
  • Nov 26, 2008 6:45am Nov 26, 2008 6:45am
Sorry mate, the bus seems to have a different route. I cashed in my ticket at the 00 and now will wait. Dow is doing a caffeine tapdance and cable is a bit of a tightrope for now so I'll keep my pips in my pocket.

Quoting Vourvoul
Ride the Bulls bearback!
  • #101,344
  • Nov 26, 2008 6:53am Nov 26, 2008 6:53am
Quoting alcando
You seem to be sharing your bus stop with eo's 1H62ema. I like it...
I know dude... it is the perfect setup.

There's more than one Fibo level there and that 62ema...

Not giving up though. Just scalped her off the trend line for a few pips but still...
  • #101,345
  • Nov 26, 2008 6:54am Nov 26, 2008 6:54am
Quoting Shilva
Stopped out on this when it broke back up above 5300

Still looking to short this today.
Usually I am a day early to the party which results in drawdown but I tend to come out ok. I am thinking that the drop down is coming tomorrow. So that mean it will be here on Friday (IMO).
The reasoning is because tomorrow is Turkey Day (US markets will be closed) which will result in light action and high viotility (as if we havent had enough already).

I think we will see a last push up to 1.5420ish before the fall. The reason is home sales comes out and Obama is going to speak. I dont know if that will have an affect but that is the only things I see on the horizon.

Comments?
  • #101,346
  • Nov 26, 2008 6:58am Nov 26, 2008 6:58am
this could shoot up quite soon but I could be wrong...
PIPPED TO THE LINE
  • #101,347
  • Nov 26, 2008 7:00am Nov 26, 2008 7:00am
Quoting nAVIN2007
reasoning for shorting bro...it bounced 90 pips up from the fib
Resistance at the trend line at 5350 mostly.

I think fibs are just to many lines on a chart. I know some will disagree on that statement but ma's are my moving fibs.

also u.s. stocks expecting to take a nose dive today.
  • #101,348
  • Nov 26, 2008 7:01am Nov 26, 2008 7:01am
I just shorted again @ 5346
  • #101,349
  • Nov 26, 2008 7:04am Nov 26, 2008 7:04am
Quoting Shilva
I just shorted again @ 5346
you are in TROUBLE!!!
  • #101,350
  • Nov 26, 2008 7:08am Nov 26, 2008 7:08am
I am very long biased for Thursday as it will just be UK and European traders milking the system. For it will depend on how the Dow/S&P close tonight. Either way the technicals with a bit of help from the FTSE will tell us..

Quoting Mojea
Usually I am a day early to the party which results in drawdown but I tend to come out ok. I am thinking that the drop down is coming tomorrow. So that mean it will be here on Friday (IMO).
The reasoning is because tomorrow is Turkey Day (US markets will be closed) which will result in light action and high viotility (as if we havent had enough already).

I think we will see a last push up to 1.5420ish before the fall. The reason is home sales comes out and Obama is going to speak. I dont know if that will have an affect but that is the only...
Ride the Bulls bearback!
  • #101,351
  • Nov 26, 2008 7:08am Nov 26, 2008 7:08am
0.2 lot long at 1.5232 target 1.5450
0.1 lot long at 1.5241 target 1.5600

both stop loss at 1.5180
  • #101,352
  • Nov 26, 2008 7:09am Nov 26, 2008 7:09am
Good Morning...

I see we got a 100+ pip bounce off the bottom of the channel and then fell right back through it... The 1h 62ema provided good support and now we are trying to get back inside that channel.. the next hour should clear up the direction a bit... If we get back inside that channel , we could go to the top this time...

My h4 is shaping up as a bullish hammer, but how will it close...???
Attached Image
Patience + Discipline - Greed = Success
  • #101,353
  • Nov 26, 2008 7:10am Nov 26, 2008 7:10am
Quoting Infinity
Good Morning...

I see we got a 100+ pip bounce off the bottom of the channel and then fell right back through it... The 1h 62ema provided good support and now we are trying to get back inside that channel.. the next hour should clear up the direction a bit... If we get back inside that channel , we could go to the top this time...

My h4 is shaping up as a bullish hammer, but how will it close...???
What's up bro! My pending long order got missed by 10 pips. DAMNIT!!! Now I shall look for a seat. Did good last night scalping through the Asian session and part of the London session. Now, it's time to add to the pips!

Trade well bro!
Just digging in the trenches like everyone else!
  • #101,354
  • Nov 26, 2008 7:16am Nov 26, 2008 7:16am
Quoting Infinity
Good Morning...

I see we got a 100+ pip bounce off the bottom of the channel and then fell right back through it... The 1h 62ema provided good support and now we are trying to get back inside that channel.. the next hour should clear up the direction a bit... If we get back inside that channel , we could go to the top this time...

My h4 is shaping up as a bullish hammer, but how will it close...???
Could you tell me what your rules are for pulling your channel?
Zone Breakout Method
  • #101,355
  • Nov 26, 2008 7:16am Nov 26, 2008 7:16am
Quoting eohater
What's up bro! My pending long order got missed by 10 pips. DAMNIT!!! Now I shall look for a seat. Did good last night scalping through the Asian session and part of the London session. Now, it's time to add to the pips!

Trade well bro!
You are sitting with me at the bus stop?

was it 5204?
  • #101,356
  • Nov 26, 2008 7:16am Nov 26, 2008 7:16am
Price bounced from the descending broken TL on the retest and came back inside an ascending channel we see on the 1hr/4hr chart. Price might be forming o bullish flag on the 15m. The target area is around 1.5700 where we have a descending UTL in confluence with ascending channels UTL, where ill be looking at price action. Simple chart that talks a thousand words :-)
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd_4hr_channels_261108.jpg Size: 101 KB
  • #101,357
  • Nov 26, 2008 7:20am Nov 26, 2008 7:20am
Quoting Vourvoul
You are sitting with me at the bus stop?

was it 5204?
5220, my broker went to 5230 and shot up like a rocket. DAMNIT!

I did jump in off the 15m 10ema at 5330, so I'm sitting nice currently.
Just digging in the trenches like everyone else!
  • #101,358
  • Nov 26, 2008 7:20am Nov 26, 2008 7:20am
Quoting belekas
Price bounced from the descending broken TL on the retest and came back inside an ascending channel we see on the 1hr/4hr chart. Price might be forming o bullish flag on the 15m. The target area is around 1.5700 where we have a descending UTL in confluence with ascending channels UTL, where ill be looking at price action. Simple chart that talks a thousand words :-)
great knowledge and fantastic use of trendlines bro
  • #101,359
  • Nov 26, 2008 7:21am Nov 26, 2008 7:21am
needs to push up about 10 more pips to break 15 minute resistance trendline..
PIPPED TO THE LINE
  • #101,360
  • Nov 26, 2008 7:21am Nov 26, 2008 7:21am
Quoting eohater
What's up bro! My pending long order got missed by 10 pips. DAMNIT!!! Now I shall look for a seat. Did good last night scalping through the Asian session and part of the London session. Now, it's time to add to the pips!

Trade well bro!
Great work bro!! I got in at 5295 not too long ago... I just closed for 100 pips. I want a new entry now...
Patience + Discipline - Greed = Success
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